"Back in Pohang After 22 Years"... POSCO Group Strengthens 'HyREX Alliance' with Prime Minister Albanese's Visit

[Financial News] POSCO Group announced on the 30th that Australian Prime Minister Anthony Albanese visited Pohang Steelworks for the first time in 22 years, toured the development site of the Korean hydrogen reduction ironmaking technology 'HyREX (hydrogen reduction ironmaking technology)', and pledged to strengthen economic cooperation between the two countries.
Prime Minister Albanese's visit marks the first time since former Prime Minister John Howard in 2003 that an Australian leader has visited POSCO. The occasion has become an opportunity to expand cooperation beyond iron ore and raw coal supply to future industries such as secondary batteries, natural gas, and low-carbon steel.
On this day, Prime Minister Albanese observed the process of using Australian iron ore and raw coal at the raw materials pier of Pohang Steelworks, then visited the HyREX development site to receive a direct explanation of the Korean hydrogen reduction ironmaking process.
He emphasized, "Australia is one of the world's leading resource-rich countries and can unlock limitless growth opportunities through investments in critical minerals," adding, "We will continue to expand cooperation with Korea."
During his meeting with the Prime Minister, POSCO Group Chairman Chang In-hwa stated, "Australia is a strategic partner in pioneering future growth industries together, from steel to secondary battery materials and energy," and expressed hope that "this visit will serve as a catalyst to solidify trust between the two countries."
Since 1971, POSCO has imported Australian iron ore and raw coal, using more than 1.5 billion tons to date. In 2010, POSCO invested in a stake in Roy Hill Mine, and in 2022, it acquired Senex Energy to expand its natural gas business. Currently, the company is also pursuing a project to produce low-carbon steel raw materials (HBI).
In particular, coinciding with the Prime Minister's visit, POSCO signed a memorandum of understanding (MOU) with BHP Group Limited (BHP) for the joint development of HyREX technology. BHP will provide iron ore raw materials and technical consulting necessary for operating the demonstration plant, and both companies plan to develop this into a successful climate change response model for the global steel industry.
On the same day, Chairman Chang delivered a keynote speech on 'Supply Chain Partnership' at the Asia-Pacific Economic Cooperation (APEC) CEO Summit. In his address, he introduced cases of Korea-Australia cooperation in stable raw material supply, joint development of carbon reduction technologies, and future energy transition, emphasizing the importance of multilateral solidarity for the sustainability and resilience of global supply chains.
Meanwhile, on the 29th, POSCO Group hosted 'POSCO Night', inviting global partners from Australia, China, and other countries. The event included exchanges with Simon Trott, CEO of Rio Tinto Group, Zhu Wei, head of energy storage systems (ESS) at Contemporary Amperex Technology Co., Limited (CATL), and discussions on future cooperation.
moving@fnnews.com Lee Dong-hyuk Reporter